Acting Gov Sheila Oliver signed a law last Thursday that mandates the state Board of Education include financial literacy instruction in the curriculum for sixth- through eighth-grade students in public schools across New Jersey Although the new law goes into effect September 2019 New Jersey has actually been ahead of the financial literacy curve for years now In 2014 the state adopted the program Standard 9 21st Century Life and Careers which include guidelines for what students need to know and be able to do in order to be successful in their careers and to achieve financial independence and health Included are specific financial literacy standards broken out by grade level full guidelines can be found here According to Mike Yaple a spokesman for the state Department of Education this new law signed last week sets these current guidelines in statute as well as enhances them You may be thinking Why is this big news I assume my kids are learning about basic financial concepts in school Sadly they are probably not Lets start at the high school level Surely most kids are required to take personal finance courses as a teenager Nope It seems ludicrous right High schools teach Geometry Art and European History all valuable to know for sure But how is it possible that many dont offer Personal Finance as a class After graduation every step our kids take from college through retirement will be directly influenced by their ability to manage their finances student loans credit cards jobs mortgages savings etc Once they hit 18 years old they are required and able to make decisions that could affect their entire life often without the necessary financial knowledge and skills I mean how often on a day to day basis do you need to calculate the area of a trapezoid FYI because now youre curious the area of a trapezoid a b 2 h The point being understanding finance is a critical skill needed as an adult yet it is not a mandatory high school course in most states In fact the 2017 Financial Report Card from Champlain Colleges Center for Financial Literacy provides the grades for all states based on their efforts to produce financially literate high school graduates Sadly only five states received an A grade for their financial education efforts Alabama Virginia Tennessee Utah and Missouri These five states require high school students to take at least a half-year Personal Finance course as a graduation requirement Only 17 states in total require high school students to take a course in personal finance The full study and state grade breakout can be found here If finance is not required at most high school levels then its certainly not a focus at the middle and elementary school level Which is a shame because that is exactly when it should be taught According to a report by the Consumer Financial Protection Bureau CFPB childhood financial attitudes habits and norms develop between 6-12 years old The good news is this topic is clearly generating a lot of interest There is more of a focus now among local and state policy makers major federal agencies and the media to push for teaching kids personal finance early in schools And the Garden State seems to be leading the way